Random
What does Property Insurance cover?
"Stuff". Personal belongings and buildings
What does Casualty Insurance do?
Pays the "other guy"
The first party is _____
The insured
The Third party is ____
The "other guy"
Define Negligence to me like I am a 12 year old
Failure to act or not act as a reasonable person.
One Element of Negligence is_______
Owe a duty, Breach the duty, Be the proximate cause, Damages (all acceptable)
What is one defense against a claim of negligence?
I'm not telling you all of them... get a grip
What is absolute or strict liability usually associated with?
Dangerous activities
What is a tort?
A civil wrong that causes someone else to suffer loss
If the mail man gets bit my dog, what type of insurance will I use?
Casualty
Define the defense of "last clear chance"
What is vicarious liability?
When a person may be held responsible for negligent acts of another person who has direct liability
General damages compensate for what?
pain and suffering as well as mental anguish
Punitive damages may be awarded to?
The injured party
Personal injury causes what?
"Hurt feelings"
If Schmatt has a policy with $75,000 bodily injury limit and $10,000 property damage limit, what is this an example of?
Split limit liability
What does it mean to have single or combined single limit liability?
One limit that applies to BI and PD
What is the Acronym for supplementary policies?
B.A.I.L.E.D
All of the following are duties after a loss EXCEPT:
Notify the insurance company
Assume liability
Assist the company
Assume Liability
What is an intervening cause?
Independent event that affects the chain of events
Bonus: Sing the Philadelphia Eagles fight song
Explain an aggregate limit
A limit that applies to all losses occuring in one policy period
What does the A in B.A.I.L.E.D stand for
Bonus: who was the Superbowl MVP
Aid
The ELITE quarterback named Jalen Hurts
Name 2 Exclusions in general that get no coverage
Not putting it on here for the integrity of future questions
Bodily injury to the insured
Losses to the insurer
Nuclear energy liability
Losses to the insurer
Is the policy limit restored after loss occurs?
YES